Addressing the most sought-after questions that occupy the minds of entrepreneurs and decision makers, the new report of "Stratview Research" on the Automotive Passive Safety System Market, answers all the important questions.
Getting to the bare bones of the issues and factors which are sculpturing the market, Stratview Research brings out the best actionable market intelligence for the global Automotive Passive Safety System Market.
The analysts have scrupulously studied the trend and cautiously forecasted the future market developments for 2017-2022.
The important questions the report answers are:
- What will be the market growth rate in the near future?
- What are the major developments in the market wrt regulations, acquisitions and innovations?
- What are the growth drivers as well as the constraints?
- What are the regional growth hotspots?
- What are the segmental growth forecasts?
These questions and many more, big and small, are all discussed in the report in great detail.
The strategic Market dissection
The dissection of the market is done to enlighten the aspects which are of interest to firms across the value chain.
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- Vehicle Type (Passenger Car, Light-Duty Commercial Vehicle, Medium- and Heavy-Duty Commercial Vehicle)
- Application Type (Airbag, Seatbelt, Steering Wheel, Electronic Control Unit, Other Passive Safety System)
- End-Use Type (OEM, Aftermarket)
- Region (North America, Europe, Asia-Pacific and RoW)
The Growth Prognosis & its Drivers
The global automotive passive safety system market is projected to grow at a sustainable CAGR of 3.7% over the next five years to reach US$ 27.9 billion in 2022. Rising consumers’ preferences for high safety features in the vehicles, introduction of more stringent safety standards by the governments of many countries, increasing penetration of curtain and knee airbags, especially in the developing economies, organic growth of automotive production, and an advancement in technology are some of the major factors driving the demand for passive safety systems in the global automotive industry over the next few years.
The Key players
The top players are Autoliv AB, Delphi Automotive, ZF TRW Automotive Holdings Corp., and Takata Corporation.
Other important firms are Denso Corporation, Bosch Limited, Tokai Rika Co. Ltd., Key Safety Systems, Hyundai Mobis Co. Ltd., and Toyoda Gosei.
The undisputed Dominance of the Asia-Pacific
In terms of region, the automotive passive safety system market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). Asia-Pacific has been the largest market of passenger safety systems in the automotive industry, China, Japan, South Korea, and India being the major markets. China and India are the growth engines of the Asia-Pacific market, due to an incessant increase in the demand for vehicles and introduction of stringent safety standards. RoW is expected to register the highest growth during the forecast period, driven by upcoming assembly plants in the Middle East and Latin America, and increasing passive safety system penetration per car.
Emerging Trends: The global automotive passive safety system market is segmented based on vehicle type: Passenger Car, Light Commercial Vehicle, and Medium & Heavy Duty Commercial Vehicle. Passenger car is expected to remain the largest vehicle type in the global automotive passenger safety system market over the next five years. The vehicle type is also projected to witness the fastest growth during the same period, owing to increasing penetration of passive safety systems, such as airbags and seat belts, and increasing production of vehicles in the Asia-Pacific region, mainly in Japan, China, and India.
Airbag is forecasted to remain the largest product type in the global automotive passive safety system market over the next five years, driven by increasing penetration of curtain and knee airbags in the developing economies, such as China, introduction of more stringent safety norms, and an organic growth in the automotive production. All product types, airbag, seat belt, electronic control unit, steering wheels, and other passive safety systems are projected to grow at a healthy rate during the same period.
OEM’s market is likely to remain the largest end-use type during the forecast period and is expected to experience a higher growth rate over the next five years, driven by an increasing automotive passenger cars and commercial vehicles across regions.
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